M&A - DELAWARE GROUP EQUITY FUNDS IV
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000765
Filing Summary: On June 18, 2025, Macquarie Group Limited, parent of Delaware Management Company, together with certain affiliates and Nomura Holding America Inc., announced an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. This acquisition will lead to the termination of each Fund’s investment advisory agreement with Delaware Management Company, pending shareholder approval. The Board of Trustees approved recommending a new investment advisory agreement to shareholders, as well as an interim agreement with DMC effective upon the transaction's closing. Changes to Fund names to reflect the new ownership structure were outlined, and proxy materials for shareholder meetings regarding these changes will be mailed in late July 2025. Further information regarding the timing of the transaction’s closing will be shared later.
Additional details:
New Investment Advisory Agreement: approved pending shareholder approval
Interim Agreement: approved effective at the time of transaction
Name Changes: Current and new names for various funds were detailed
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: Update
Accession Number: 000113743925000784
Filing Summary: Macquarie Group Limited, along with Delaware Management Company (DMC) and Nomura Holding America Inc., entered into an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. As a result of this transaction, each Fund’s investment advisory agreement with DMC will terminate, and a new investment advisory agreement is proposed. The Board of Trustees for each Fund approved this new advisory agreement pending shareholder approval, which is anticipated to take place in a special meeting with proxy materials sent out in late July 2025. Alongside this, an interim advisory agreement was approved, allowing DMC to provide services for a period of up to 150 days from the effective date or until shareholder approval of the new agreement. The document also includes comprehensive name changes for several funds to reflect the acquisition, changing from Macquarie to Nomura in multiple fund names. Further details on the transaction’s closing will be provided in a future fund supplement, with a reminder that the document is not a solicitation of any proxy and that essential information will be included in the upcoming proxy statement available on the SEC’s website.
Additional details:
Investment Advisory Agreement Status: terminated
Interim Agreement Duration Days: 150
Fund Name Changes: [{"current_name":"Macquarie Asset Strategy Fund","new_name":"Nomura Asset Strategy Fund"},{"current_name":"Macquarie Balanced Fund","new_name":"Nomura Balanced Fund"},{"current_name":"Macquarie Climate Solutions Fund","new_name":"Nomura Climate Solutions Fund"},{"current_name":"Macquarie Core Equity Fund","new_name":"Nomura Core Equity Fund"},{"current_name":"Macquarie Corporate Bond Fund","new_name":"Nomura Corporate Bond Fund"},{"current_name":"Macquarie Diversified Income Fund","new_name":"Nomura Diversified Income Fund"},{"current_name":"Macquarie Emerging Markets Debt Corporate Fund","new_name":"Nomura Emerging Markets Debt Corporate Fund"},{"current_name":"Macquarie Emerging Markets Fund","new_name":"Nomura Emerging Markets Fund"},{"current_name":"Macquarie Extended Duration Bond Fund","new_name":"Nomura Extended Duration Bond Fund"},{"current_name":"Macquarie Floating Rate Fund","new_name":"Nomura Floating Rate Fund"},{"current_name":"Macquarie Global Allocation Fund","new_name":"Nomura Global Allocation Fund"},{"current_name":"Macquarie Global Bond Fund","new_name":"Nomura Global Bond Fund"},{"current_name":"Macquarie Global Growth Fund","new_name":"Nomura Global Growth Fund"},{"current_name":"Macquarie Global Listed Real Assets Fund","new_name":"Nomura Global Listed Real Assets Fund"},{"current_name":"Macquarie Growth and Income Fund","new_name":"Nomura Growth and Income Fund"},{"current_name":"Macquarie Healthcare Fund","new_name":"Nomura Healthcare Fund"},{"current_name":"Macquarie High Income Fund","new_name":"Nomura High Income Fund"},{"current_name":"Macquarie International Core Equity Fund","new_name":"Nomura International Core Equity Fund"},{"current_name":"Macquarie Large Cap Growth Fund","new_name":"Nomura Large Cap Growth Fund"},{"current_name":"Macquarie Limited-Term Diversified Income Fund","new_name":"Nomura Limited-Term Diversified Income Fund"},{"current_name":"Macquarie Mid Cap Growth Fund","new_name":"Nomura Mid Cap Growth Fund"},{"current_name":"Macquarie Mid Cap Income Opportunities Fund","new_name":"Nomura Mid Cap Income Opportunities Fund"},{"current_name":"Macquarie Minnesota High-Yield Municipal Bond Fund","new_name":"Nomura Minnesota High-Yield Municipal Bond Fund"},{"current_name":"Macquarie National High-Yield Municipal Bond Fund","new_name":"Nomura National High-Yield Municipal Bond Fund"},{"current_name":"Macquarie Natural Resources Fund","new_name":"Nomura Natural Resources Fund"},{"current_name":"Macquarie Opportunity Fund","new_name":"Nomura Opportunity Fund"},{"current_name":"Macquarie Real Estate Securities Fund","new_name":"Nomura Real Estate Securities Fund"},{"current_name":"Macquarie Science and Technology Fund","new_name":"Nomura Science and Technology Fund"},{"current_name":"Macquarie Small Cap Core Fund","new_name":"Nomura Small Cap Core Fund"},{"current_name":"Macquarie Small Cap Growth Fund","new_name":"Nomura Small Cap Growth Fund"},{"current_name":"Macquarie Small Cap Value Fund","new_name":"Nomura Small Cap Value Fund"},{"current_name":"Macquarie Smid Cap Core Fund","new_name":"Nomura Smid Cap Core Fund"},{"current_name":"Macquarie Strategic Income Fund","new_name":"Nomura Strategic Income Fund"},{"current_name":"Macquarie Systematic Emerging Markets Equity Fund","new_name":"Nomura Systematic Emerging Markets Equity Fund"},{"current_name":"Macquarie Tax-Free California Fund","new_name":"Nomura Tax-Free California Fund"},{"current_name":"Macquarie Tax-Free Colorado Fund","new_name":"Nomura Tax-Free Colorado Fund"},{"current_name":"Macquarie Tax-Free Idaho Fund","new_name":"Nomura Tax-Free Idaho Fund"},{"current_name":"Macquarie Tax-Free Minnesota Fund","new_name":"Nomura Tax-Free Minnesota Fund"},{"current_name":"Macquarie Tax-Free New York Fund","new_name":"Nomura Tax-Free New York Fund"},{"current_name":"Macquarie Tax-Free Oregon Fund","new_name":"Nomura Tax-Free Oregon Fund"},{"current_name":"Macquarie Tax-Free Pennsylvania Fund","new_name":"Nomura Tax-Free Pennsylvania Fund"},{"current_name":"Macquarie Tax-Free USA Fund","new_name":"Nomura Tax-Free USA Fund"},{"current_name":"Macquarie Tax-Free USA Intermediate Fund","new_name":"Nomura Tax-Free USA Intermediate Fund"},{"current_name":"Macquarie Ultrashort Fund","new_name":"Nomura Ultrashort Fund"},{"current_name":"Macquarie Value Fund","new_name":"Nomura Value Fund"},{"current_name":"Macquarie Wealth Builder Fund","new_name":"Nomura Wealth Builder Fund"},{"current_name":"Macquarie VIP Asset Strategy Series","new_name":"Nomura VIP Asset Strategy Series"},{"current_name":"Macquarie VIP Balanced Series","new_name":"Nomura VIP Balanced Series"},{"current_name":"Macquarie VIP Core Equity Series","new_name":"Nomura VIP Core Equity Series"},{"current_name":"Macquarie VIP Corporate Bond Series","new_name":"Nomura VIP Corporate Bond Series"},{"current_name":"Macquarie VIP Emerging Markets Series","new_name":"Nomura VIP Emerging Markets Series"},{"current_name":"Macquarie VIP Energy Series","new_name":"Nomura VIP Energy Series"},{"current_name":"Macquarie VIP Fund for Income Series","new_name":"Nomura VIP Fund for Income Series"},{"current_name":"Macquarie VIP Global Growth Series","new_name":"Nomura VIP Global Growth Series"},{"current_name":"Macquarie VIP Growth and Income Series","new_name":"Nomura VIP Growth and Income Series"},{"current_name":"Macquarie VIP Growth Equity Series","new_name":"Nomura VIP Growth Equity Series"},{"current_name":"Macquarie VIP Growth Series","new_name":"Nomura VIP Growth Series"},{"current_name":"Macquarie VIP High Income Series","new_name":"Nomura VIP High Income Series"},{"current_name":"Macquarie VIP International Core Equity Series","new_name":"Nomura VIP International Core Equity Series"},{"current_name":"Macquarie VIP Investment Grade Series","new_name":"Nomura VIP Investment Grade Series"},{"current_name":"Macquarie VIP Limited Duration Bond Series","new_name":"Nomura VIP Limited Duration Bond Series"},{"current_name":"Macquarie VIP Limited-Term Bond Series","new_name":"Nomura VIP Limited-Term Bond Series"},{"current_name":"Macquarie VIP Mid Cap Growth Series","new_name":"Nomura VIP Mid Cap Growth Series"},{"current_name":"Macquarie VIP Natural Resources Series","new_name":"Nomura VIP Natural Resources Series"},{"current_name":"Macquarie VIP Opportunity Series","new_name":"Nomura VIP Opportunity Series"},{"current_name":"Macquarie VIP Pathfinder Aggressive Series","new_name":"Nomura VIP Pathfinder Aggressive Series"},{"current_name":"Macquarie VIP Pathfinder Conservative Series","new_name":"Nomura VIP Pathfinder Conservative Series"},{"current_name":"Macquarie VIP Pathfinder Moderate Series","new_name":"Nomura VIP Pathfinder Moderate Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Aggressive Series","new_name":"Nomura VIP Pathfinder Moderately Aggressive Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Conservative Series","new_name":"Nomura VIP Pathfinder Moderately Conservative Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Aggressive - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderately Aggressive - Managed Volatility Series"},{"current_name":"Macquarie VIP Pathfinder Moderately Conservative - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderately Conservative - Managed Volatility Series"},{"current_name":"Macquarie VIP Pathfinder Moderate - Managed Volatility Series","new_name":"Nomura VIP Pathfinder Moderate - Managed Volatility Series"},{"current_name":"Macquarie VIP Science and Technology Series","new_name":"Nomura VIP Science and Technology Series"},{"current_name":"Macquarie VIP Small Cap Growth Series","new_name":"Nomura VIP Small Cap Growth Series"},{"current_name":"Macquarie VIP Small Cap Value Series","new_name":"Nomura VIP Small Cap Value Series"},{"current_name":"Macquarie VIP Smid Cap Core Series","new_name":"Nomura VIP Smid Cap Core Series"},{"current_name":"Macquarie VIP Total Return Series","new_name":"Nomura VIP Total Return Series"},{"current_name":"Macquarie VIP Value Series","new_name":"Nomura VIP Value Series"}]
Form Type: 497K
Filing Date: 2025-06-18
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000785
Filing Summary: On June 18, 2025, Delaware Group Equity Funds IV's parent, Macquarie Group Limited, alongside its affiliates and Nomura Holding America Inc., announced an agreement for Nomura to acquire Macquarie Asset Management’s US and European public investments business. The closure of this transaction will result in the automatic termination of each Fund’s investment advisory agreement with Delaware Management Company (DMC). In preparation for the transaction's closing, each Fund’s Board of Trustees approved a new investment advisory agreement which will go into effect upon shareholder approval. Shareholders will receive proxy materials for a special meeting to approve this new advisory agreement. Additionally, the Board approved an interim agreement allowing DMC to provide advisory services for a limited period until the new agreement is ratified. Upon the transaction's closing, numerous name changes of the Funds will be implemented, replacing 'Macquarie' with 'Nomura'. Various other changes and the timing of the transaction's closing will be communicated in future fund supplements. A proxy statement will be released in due course, available on the SEC’s website, containing essential information regarding the proposed new advisory agreement and the transaction itself.
Additional details:
Current Name: Macquarie Asset Strategy Fund
New Name: Nomura Asset Strategy Fund
Current Name: Macquarie Balanced Fund
New Name: Nomura Balanced Fund
Current Name: Macquarie Climate Solutions Fund
New Name: Nomura Climate Solutions Fund
Current Name: Macquarie Core Equity Fund
New Name: Nomura Core Equity Fund
Current Name: Macquarie Corporate Bond Fund
New Name: Nomura Corporate Bond Fund
Current Name: Macquarie Diversified Income Fund
New Name: Nomura Diversified Income Fund
Current Name: Macquarie Emerging Markets Debt Corporate Fund
New Name: Nomura Emerging Markets Debt Corporate Fund
Current Name: Macquarie Emerging Markets Fund
New Name: Nomura Emerging Markets Fund
Current Name: Macquarie Extended Duration Bond Fund
New Name: Nomura Extended Duration Bond Fund
Current Name: Macquarie Floating Rate Fund
New Name: Nomura Floating Rate Fund
Current Name: Macquarie Global Allocation Fund
New Name: Nomura Global Allocation Fund
Current Name: Macquarie Global Bond Fund
New Name: Nomura Global Bond Fund
Current Name: Macquarie Global Growth Fund
New Name: Nomura Global Growth Fund
Current Name: Macquarie Global Listed Real Assets Fund
New Name: Nomura Global Listed Real Assets Fund
Current Name: Macquarie Growth and Income Fund
New Name: Nomura Growth and Income Fund
Current Name: Macquarie Healthcare Fund
New Name: Nomura Healthcare Fund
Current Name: Macquarie High Income Fund
New Name: Nomura High Income Fund
Current Name: Macquarie International Core Equity Fund
New Name: Nomura International Core Equity Fund
Current Name: Macquarie Large Cap Growth Fund
New Name: Nomura Large Cap Growth Fund
Current Name: Macquarie Limited-Term Diversified Income Fund
New Name: Nomura Limited-Term Diversified Income Fund
Current Name: Macquarie Mid Cap Growth Fund
New Name: Nomura Mid Cap Growth Fund
Current Name: Macquarie Mid Cap Income Opportunities Fund
New Name: Nomura Mid Cap Income Opportunities Fund
Current Name: Macquarie Minnesota High-Yield Municipal Bond Fund
New Name: Nomura Minnesota High-Yield Municipal Bond Fund
Current Name: Macquarie National High-Yield Municipal Bond Fund
New Name: Nomura National High-Yield Municipal Bond Fund
Current Name: Macquarie Natural Resources Fund
New Name: Nomura Natural Resources Fund
Current Name: Macquarie Opportunity Fund
New Name: Nomura Opportunity Fund
Current Name: Macquarie Real Estate Securities Fund
New Name: Nomura Real Estate Securities Fund
Current Name: Macquarie Science and Technology Fund
New Name: Nomura Science and Technology Fund
Current Name: Macquarie Small Cap Core Fund
New Name: Nomura Small Cap Core Fund
Current Name: Macquarie Small Cap Growth Fund
New Name: Nomura Small Cap Growth Fund
Current Name: Macquarie Small Cap Value Fund
New Name: Nomura Small Cap Value Fund
Current Name: Macquarie Smid Cap Core Fund
New Name: Nomura Smid Cap Core Fund
Current Name: Macquarie Strategic Income Fund
New Name: Nomura Strategic Income Fund
Current Name: Macquarie Systematic Emerging Markets Equity Fund
New Name: Nomura Systematic Emerging Markets Equity Fund
Current Name: Macquarie Tax-Free California Fund
New Name: Nomura Tax-Free California Fund
Current Name: Macquarie Tax-Free Colorado Fund
New Name: Nomura Tax-Free Colorado Fund
Current Name: Macquarie Tax-Free Idaho Fund
New Name: Nomura Tax-Free Idaho Fund
Current Name: Macquarie Tax-Free Minnesota Fund
New Name: Nomura Tax-Free Minnesota Fund
Current Name: Macquarie Tax-Free New York Fund
New Name: Nomura Tax-Free New York Fund
Current Name: Macquarie Tax-Free Oregon Fund
New Name: Nomura Tax-Free Oregon Fund
Current Name: Macquarie Tax-Free Pennsylvania Fund
New Name: Nomura Tax-Free Pennsylvania Fund
Current Name: Macquarie Tax-Free USA Fund
New Name: Nomura Tax-Free USA Fund
Current Name: Macquarie Tax-Free USA Intermediate Fund
New Name: Nomura Tax-Free USA Intermediate Fund
Current Name: Macquarie Ultrashort Fund
New Name: Nomura Ultrashort Fund
Current Name: Macquarie Value Fund
New Name: Nomura Value Fund
Current Name: Macquarie Wealth Builder Fund
New Name: Nomura Wealth Builder Fund
Current Name: Macquarie VIP Asset Strategy Series
New Name: Nomura VIP Asset Strategy Series
Current Name: Macquarie VIP Balanced Series
New Name: Nomura VIP Balanced Series
Current Name: Macquarie VIP Core Equity Series
New Name: Nomura VIP Core Equity Series
Current Name: Macquarie VIP Corporate Bond Series
New Name: Nomura VIP Corporate Bond Series
Current Name: Macquarie VIP Emerging Markets Series
New Name: Nomura VIP Emerging Markets Series
Current Name: Macquarie VIP Energy Series
New Name: Nomura VIP Energy Series
Current Name: Macquarie VIP Fund for Income Series
New Name: Nomura VIP Fund for Income Series
Current Name: Macquarie VIP Global Growth Series
New Name: Nomura VIP Global Growth Series
Current Name: Macquarie VIP Growth and Income Series
New Name: Nomura VIP Growth and Income Series
Current Name: Macquarie VIP Growth Equity Series
New Name: Nomura VIP Growth Equity Series
Current Name: Macquarie VIP Growth Series
New Name: Nomura VIP Growth Series
Current Name: Macquarie VIP High Income Series
New Name: Nomura VIP High Income Series
Current Name: Macquarie VIP International Core Equity Series
New Name: Nomura VIP International Core Equity Series
Current Name: Macquarie VIP Investment Grade Series
New Name: Nomura VIP Investment Grade Series
Current Name: Macquarie VIP Limited Duration Bond Series
New Name: Nomura VIP Limited Duration Bond Series
Current Name: Macquarie VIP Limited-Term Bond Series
New Name: Nomura VIP Limited-Term Bond Series
Current Name: Macquarie VIP Mid Cap Growth Series
New Name: Nomura VIP Mid Cap Growth Series
Current Name: Macquarie VIP Natural Resources Series
New Name: Nomura VIP Natural Resources Series
Current Name: Macquarie VIP Opportunity Series
New Name: Nomura VIP Opportunity Series
Current Name: Macquarie VIP Pathfinder Aggressive Series
New Name: Nomura VIP Pathfinder Aggressive Series
Current Name: Macquarie VIP Pathfinder Conservative Series
New Name: Nomura VIP Pathfinder Conservative Series
Current Name: Macquarie VIP Pathfinder Moderate Series
New Name: Nomura VIP Pathfinder Moderate Series
Current Name: Macquarie VIP Pathfinder Moderately Aggressive Series
New Name: Nomura VIP Pathfinder Moderately Aggressive Series
Current Name: Macquarie VIP Pathfinder Moderately Conservative Series
New Name: Nomura VIP Pathfinder Moderately Conservative Series
Current Name: Macquarie VIP Pathfinder Moderately Aggressive - Managed Volatility Series
New Name: Nomura VIP Pathfinder Moderately Aggressive - Managed Volatility Series
Current Name: Macquarie VIP Pathfinder Moderately Conservative - Managed Volatility Series
New Name: Nomura VIP Pathfinder Moderately Conservative - Managed Volatility Series
Current Name: Macquarie VIP Pathfinder Moderate - Managed Volatility Series
New Name: Nomura VIP Pathfinder Moderate - Managed Volatility Series
Current Name: Macquarie VIP Science and Technology Series
New Name: Nomura VIP Science and Technology Series
Current Name: Macquarie VIP Small Cap Growth Series
New Name: Nomura VIP Small Cap Growth Series
Current Name: Macquarie VIP Small Cap Value Series
New Name: Nomura VIP Small Cap Value Series
Current Name: Macquarie VIP Smid Cap Core Series
New Name: Nomura VIP Smid Cap Core Series
Current Name: Macquarie VIP Total Return Series
New Name: Nomura VIP Total Return Series
Current Name: Macquarie VIP Value Series
New Name: Nomura VIP Value Series
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000336
Filing Summary: On April 21, 2025, Macquarie Group Limited and certain affiliates, along with Nomura Holding America Inc., entered into an agreement for Nomura to acquire the US and European public investments asset management business of Macquarie Asset Management. The transaction is contingent upon customary closing conditions and regulatory approvals, with an expected closing date by the end of October 2025. The agreement will lead to the automatic termination of each Fund's investment advisory agreement with Delaware Management Company, prompting the Board of Trustees to consider and potentially approve new investment advisory agreements that will be presented to Fund shareholders post-transaction approval.
Additional details:
Investment Advisory Agreement Status: terminated
Expected Closing Date: 2025-10-31
Transaction Conditions: customary closing conditions and regulatory approvals
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000361
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent company of Delaware Management Company (DMC), along with certain affiliates and Nomura Holding America Inc. (Nomura), announced an agreement for Nomura to acquire the US and European public investments asset management business of Macquarie Asset Management. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the end of October 2025, although this timeline may change. Upon closing, the investment advisory agreements currently in place between DMC and the Funds will terminate automatically, necessitating the approval of a new advisory agreement. The Board of Trustees of each Fund will be asked to approve new agreements, which will be presented to shareholders for approval if endorsed by the Board, and would take effect at the transaction's closing. Investors are advised to consult tax professionals regarding potential tax implications related to these changes.
Additional details:
Investment Advisory Agreement: terminated upon closing of transaction
Expected Closing Date: by the end of October 2025
New Agreement Approval: subject to Board and shareholder approval
Form Type: 497K
Filing Date: 2025-04-21
Corporate Action: Acquisition
Type: New
Accession Number: 000113743925000364
Filing Summary: On April 21, 2025, Macquarie Group Limited, the parent company of Delaware Management Company (DMC), and Nomura Holding America Inc. announced an agreement for Nomura to acquire the US and European public investments asset management business of Macquarie Asset Management. The transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals, and is expected to close by the end of October 2025. Upon closure, there will be an automatic termination of each Fund’s investment advisory agreement with DMC, followed by the Board of Trustees being asked to approve new investment advisory and sub-advisory agreements. If approved, these new agreements will become effective upon closing of the transaction. Furthermore, the document emphasizes the importance of consulting a tax professional regarding tax implications before making investment decisions.
Additional details:
Investment Advisory Agreement Termination: Each Fund’s investment advisory agreement with DMC will automatically terminate upon the closing of the transaction.
Expected Closing Date: The transaction is expected to close by the end of October 2025.
New Agreements: The Board will be asked to approve new investment advisory and sub-advisory agreements upon termination of the current agreements.
Tax Consultation Advice: Investors should consult their tax professional about potential tax consequences before investing.
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